ME importers look to China for future buys - survey

LOOK EAST: The Middle East is looking to China as a source of well prices goods for import on the back of the global crisis.. (Getty Images)

Middle East businessmen are looking to import more goods from Chinese manufacturers in the coming year in order to retain a competitive edge, according to a new survey.

The study, carried out by Global Sources, shows that 82 percent of buyers are already importing more goods from China, or were planning to buy more, within the next 12 months.

More than half (52 percent) plan to increase their purchases from China by as much as 30 percent compared to last year, the study finds, suggesting that trade between the region and China is becoming more important.

“It's clear that China is becoming an even more important supply market for buyers in the Middle East," said Bill Janeri, Global Sources' Middle East general manager.

"The companies we surveyed have been importing for a long time. In fact, 43 percent of them have been importing for 10 years or more and 20 percent of these companies have been importing for more than 20 years. So I feel these results really give a good indication of trade today in the Middle East “ he added.

Other findings reveal that 59 percent of importers have been negatively affected by the global economic slowdown, but 41 percent said their businesses had been unaffected.

Overall 57 percent believed that economic conditions would improve within the next six to 12 months.

“They (the findings) indicate that perhaps the markets of the Middle East are faring better economically compared to other parts of the world,” Janeri said.

 To us, the organizer of the China Sourcing Fairs here in Dubai, it means that the exhibition is perfectly timed to meet the needs of trade in the region," Janeri added.

Global Sources organises the China Sourcing Fair exhibitions that will be held in Dubai from June 14 to 16, 2009, at the Dubai International Convention and Exhibition Centre.

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